Bharat Electronics and Thales to form a Joint Venture in India for Civilian and select defence radars

Bharat Electronics and Thales to form a Joint Venture in India for Civilian and select defence radars

August 29, 2012
Bangalore, August 29, 2012– Following the signing of the Memorandum of Understanding on November 17,2009, Navratna1 Public Sector Company, BharatElectronics Limited (BEL) and Thales are delighted to announce that the Boards of bothcompanies have approved the formation of a Joint Venture Company subject tostatutory approvals of the Government of India and the French Government. TheJVC will be dedicated to the design, development, marketing, supply and supportof civilian and select defence radars for Indian and Global markets.

The parent companies aim atmaking the Joint Venture Company a centre of excellence with the ability to offersolutions specifically aimed at meeting the needs of both Indian and exportcustomers.

In strictaccordance with Indian regulations, Thales will hold 26% equity, the maximumallowable holding interest by any foreign company in the defence sector, whileBharat Electronics will hold 74 % of the stock.

 

Noteto editors

1. The appellation ofNavratna (in Sanskrit/Hindi meaning an ornament with nine jewels) public sectorcompany is an honorific title originally given to nine Public SectorEnterprises identified by the Government of India in 1997 as "publicsector companies that have comparative advantages", giving them greaterautonomy to compete in the global market so as to "support them in theirdrive to become global giants". Today the word has become synonymous withorganisational excellence (and carries in the country similar resonance towestern appellations such as Blue Chip or even Fortune250/500). The number of organisations carrying Navratna status has been raisedto 16, including Bharat Electronics Limited.

 


AboutBharat Electronics Limited (BEL)

BEL wasestablished in Bangalore, India, by the Government of India under the Ministryof Defence in 1954 to meet the specialized electronic needs of the Indian defenseservices. Over the years, it has grown into a multi-product, multi-technology,multi-unit company serving the needs of customers in diverse fields in Indiaand abroad. BEL offers products and services in a wide spectrum of technologylike Radars, Military Communications, Naval Systems, Electronic WarfareSystems, C4I Systems, Telecommunications, Sound and Vision Broadcasting,Opto-Electronics, Tank Electronics, Solar Photovoltaic Systems, EmbeddedSoftware and Electronic Components. With its expertise developed over theyears, the company also provides turnkey systems solutions. For moreinformation, visit www.bel-india.com

 

Contact

Additional General Manager
Corporate Communication
Bharat Electronics Ltd
+91 (080) 25432408
krishnaks@bel.co.in